An Economic Generation is About to End by Charlie Champion

      An economic generation is about to end.      We can look back at the 1980’s and 90’s  with a degree of certainly. They  definitely were “the

good old days”.

     Beginning in 1984, newly elected President, Ronald Reagan, began implementing his

conservative,Kenseyan brand of economics, labeled ” Reaganomics”, as an immediate response

to the morass that was the U.S. economy,as bungled by Jimmy Carter.

     Thanks to the Carter administration’s incompetent provincial leadership, the

economy was experiencing a high rate of inflation, a high level of unemployment, and very little

growth A situation known as Stagflation.

      Interest rates in the upper teens, were a stranglehold on any potential growth.

Our bungled mission in the desert of Iran was a National embarassment.

     In general the U S economy and national psyche were at historic lows.

     In a multipronged initiative, Reagan’s team worked to reduce taxes and restrict Government

spending. This had the effect of forcing more spending into the private sector and encouraged

the return of the entrepreneurial spirit.

     To further nurture this renaissance spirit, he  pushed to reduced government regulations, helping

 to make the business climate more user friendly than it had been under the Carter administration.

Leave a Reply

You must be logged in to post a comment.